Retail investments on Dublin’s Grafton and Henry Street are the number one priority for a new €1.3bn retail investment programme set up by Germany’s biggest pension scheme provider.
Hines, the US-headquartered international real estate firm, has been selected by Bayerische Versorgungskammer (BVK) to execute a €1.3bn war chest targeting prime high street retail assets across Europe.
BVK is Germany’s is largest pension scheme group with approximately €62bn assets under management.
Hines is one of post-recession Ireland’s most prolific investors. It is currently developing a vast residential, retail and office hub in the south Dublin suburb Cherrywood. It was one of the underbidders in the sale of loans attached to Dundrum Town Centre, which ultimately went to Hammerson and Allianz.
Hines has identified cities across 20 countries in Europe where BVK will buy retail sites. These include London, Paris and Munich as well as Dublin.